Municipal Employees Retirement System of Michigan increased its holdings in Diplomat Pharmacy, Inc. (NYSE:DPLO) by 75.5% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 17,990 shares of the company’s stock after buying an additional 7,740 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Diplomat Pharmacy were worth $373,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State of Alaska Department of Revenue grew its stake in shares of Diplomat Pharmacy by 80.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,623 shares of the company’s stock valued at $127,000 after purchasing an additional 3,833 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Diplomat Pharmacy by 46.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,779 shares of the company’s stock valued at $130,000 after purchasing an additional 2,794 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Diplomat Pharmacy by 11.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 11,193 shares of the company’s stock valued at $166,000 after purchasing an additional 1,193 shares during the period. Bank of Montreal Can grew its stake in shares of Diplomat Pharmacy by 3.0% during the 2nd quarter. Bank of Montreal Can now owns 11,600 shares of the company’s stock valued at $172,000 after purchasing an additional 340 shares during the period. Finally, Trexquant Investment LP bought a new stake in shares of Diplomat Pharmacy during the 2nd quarter valued at about $180,000. Institutional investors own 72.48% of the company’s stock.
In related news, Director Jeffrey G. Park acquired 3,000 shares of the stock in a transaction dated Monday, November 20th. The shares were purchased at an average cost of $15.46 per share, with a total value of $46,380.00. Following the transaction, the director now directly owns 7,640 shares in the company, valued at $118,114.40. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Joel Saban acquired 10,000 shares of the stock in a transaction dated Monday, November 20th. The shares were bought at an average cost of $15.24 per share, for a total transaction of $152,400.00. Following the completion of the transaction, the president now owns 12,000 shares in the company, valued at $182,880. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 15,000 shares of company stock worth $228,780. Insiders own 30.20% of the company’s stock.
Diplomat Pharmacy, Inc. (NYSE DPLO) opened at $18.75 on Friday. Diplomat Pharmacy, Inc. has a 12-month low of $12.25 and a 12-month high of $21.99. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.82 and a current ratio of 1.34. The firm has a market capitalization of $1,270.02, a PE ratio of 23.95, a PEG ratio of 3.33 and a beta of 0.61.
Diplomat Pharmacy (NYSE:DPLO) last posted its quarterly earnings data on Monday, November 6th. The company reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.10. Diplomat Pharmacy had a return on equity of 8.30% and a net margin of 0.18%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the firm earned $0.21 EPS. The business’s quarterly revenue was down 4.8% on a year-over-year basis. sell-side analysts predict that Diplomat Pharmacy, Inc. will post 0.85 earnings per share for the current year.
DPLO has been the subject of a number of recent research reports. BidaskClub downgraded Diplomat Pharmacy from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 17th. Needham & Company LLC boosted their price target on Diplomat Pharmacy from $23.75 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Robert W. Baird restated a “buy” rating and set a $20.00 price target on shares of Diplomat Pharmacy in a research note on Sunday, September 17th. Deutsche Bank initiated coverage on Diplomat Pharmacy in a research note on Monday, December 4th. They set a “buy” rating and a $22.00 price target for the company. Finally, Mizuho set a $16.00 price target on Diplomat Pharmacy and gave the company a “hold” rating in a research note on Tuesday, October 24th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $20.39.
Diplomat Pharmacy Company Profile
Diplomat Pharmacy, Inc (Diplomat) operates a specialty pharmacy business, which stocks, dispenses and distributes prescriptions for various biotechnology and specialty pharmaceutical manufacturers. The Company operates through specialty pharmacy services segment. The Company’s primary focus is on medication management programs for individuals with chronic diseases, including oncology, immunology, hepatitis, multiple sclerosis, specialty infusion therapy, and various other serious and/or long-term conditions.
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